Tuesday, January 17th, 2023

News From Illinois About The CPA Exam

“Just believe in yourself. Even if you don’t, pretend that you do and, at some point, you will.” – Venus Williams

In Illinois, you will only need 120 credit hours to sit for the Exam. You still need 150 to be certified. Here’s the press release from ICPAS:

Illinois Updates CPA Exam Eligibility, Reduces Credit-Hour Requirement

CHICAGO, Jan. 4, 2023– Effective Jan. 1, 2023, prospective certified public accountants in Illinois will only need to present proof of having 120 eligible semester credit hours, versus 150, and a baccalaureate degree to apply to sit for the Uniform CPA Exam, the universal exam all certified public accountant (CPA) candidates must pass to earn the distinguished CPA credential. Individuals passing the exam will still need 150 semester credit hours to become licensed.

The Illinois CPA Society (ICPAS)—one of the largest state CPA societies in the nation—advocated alongside the Illinois Board of Examiners (ILBOE) to reduce the credit-hour requirement for testing eligibility from 150 semester credit hours to 120. In 2021, the Illinois House and Senate unanimously passed ICPAS-sponsored legislation to amend the Illinois Public Accounting Act to allow this change. While earning 150 semester credit hours remains a key education requirement to become a licensed CPA in the state, ICPAS hopes that requiring fewer credit hours to initially sit for the CPA exam will help make becoming a CPA both more appealing and accessible to a broader candidate pool, particularly among accounting students, graduates, and young professionals.

“Earning the CPA credential is one of the most notable ways to establish your professional identity and exhibit a high level of competence in the accounting and finance profession,” says Todd Shapiro, ICPAS president and CEO. “Yet, despite strong market demand for the specialized services CPAs are entrusted to provide, we’ve been witnessing a nationwide decline in new CPAs. It’s our hope that this rule change will help alleviate some of the time and financial barriers associated with becoming a CPA and, ultimately, strengthen the CPA pipeline.”

Individuals planning to sit for the CPA exam can submit their credentials evaluation application on the IBOE website at www.ilboe.org once they’ve earned 120 semester credit hours (including 24 hours in accounting with at least one course in audit and one course in tax, a minimum of 12 hours of business courses, and a baccalaureate degree). Provisional approval will be available for students completing the educational requirements in the final term in which they receive a degree. ICPAS’ FAQ on preparing to take the CPA exam is available at www.icpas.org/cpaexam-faq.

  • "Self-belief and hard work will always earn you success."
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